Exceeding all expectations, the recoverable resource from the block has gone up from the industry average of 39% to over 50%

New Delhi, 28 October 2021: Cairn Oil & Gas, India’s largest private oil and gas exploration and production company, completes 27 years of operations from its Ravva oil field, situated off the coast of Andhra Pradesh. Discovered in 1994, Ravva is India’s first offshore asset. Designated as a limited resource, Ravva was expected to produce 100 mmboe – today, it has produced over 305 mmboe.

Discussing the field’s journey, Prachur Sah, Deputy CEO, Cairn Oil & Gas, said, “Considered to be in the last league of its production cycle in the early-2000s, Ravva’s life has exceeded expectations as Cairn continues to deploy the latest technologies. As the asset enters its 28th year of production, its recovery rate has set an industrial benchmark. Ravva further proves that technology and digitalization can help the country gain more from its existing resource capacities. The Ravva field is a national asset that also boasts of world-class safety standards.”

The Ravva field has achieved recognition for its technological standards. It is home to India’s first TCP under balance-perforating with multilane completion technique, which has granted access to multiple reservoirs from the same bore, improving recovery and asset reservoir management. Deploying expandable sand screens that control sand production in the wells has further swelled production capacities and increased savings.

This has borne rich results – from a mere 3,500 barrels per day, the field touched a peak of 50,000 barrels per day and maintained it for over a decade. The field today remains relevant as it continues to produce ~15,000 barrels per day and even touched a peak of 25,000 barrels per day in the last year. It has also proven to be one of the most economical fields globally.

Furthering the vision of parent company Vedanta Ltd., Cairn’s Ravva asset is also home to a slew of ESG initiatives. The company has developed a five-phase green belt of salt-tolerant species in Ravva, beginning in 1996. The site is also a hotspot for mangrove plantations and provides an excellent roosting site to several avifaunal species.

The field also subscribes to the highest benchmarks of safety in operations and quality of services. It has duly been certified as ‘Conforming to 5S’ by Intertek. The Ravva block also recently received the Gold Award from the Quality Circle Forum of India.

India’s first offshore asset which has consistently contributed to the country’s energy basket, Ravva remains a benchmark for ageing fields that can bring gains with consistent investment and technology deployment.
 

About Cairn Oil & Gas, Vedanta Ltd.

Cairn Oil & Gas, Vedanta Ltd., is the largest private oil and gas exploration and production company in India, accounting for more than a quarter of India’s domestic crude oil production. It has a world class resource base, with a current interest in 58 blocks in India, including the 41 blocks under the Open Acreage Licensing Policy (OALP) Round I auction, five blocks each under Round II and Round III, and two awarded under the Discovered Small Fields (DSF) Round-II. In 2004, Cairn made the largest onshore discovery in more than two decades in India at Mangala, Rajasthan. In its operations of 20 years, Cairn has opened four frontier basins with numerous discoveries, 38 in Rajasthan alone.

Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa, Namibia, and Australia. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta’s strategy, with a strong focus on health, safety, and environment. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. Under the aegis of Vedanta Cares, the flagship social impact program, Nand Ghars have been set up as model anganwadis focused on eradicating child malnutrition, providing education, healthcare, and empowering women with skill development. The company has been featured in Dow Jones Sustainability Index, and was conferred CII-ITC Sustainability Award, the FICCI CSR Award, Dun & Bradstreet Awards in Metals & Mining, and certified as a Great Place to Work. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.

For more information, please visit www.vedantalimited.com/www.cairnindia.com

For further information please contact:

• • Ms Rashika Kaul

Chief Communication Officer

Cairn Oil & Gas, Vedanta Ltd

Rashika.Kaul@cairnindia.com

• • Mr Ayodhya Prasad Gaur

General Manager

Cairn Oil & Gas, Vedanta Ltd.

Ayodhya.Prasad@cairnindia.com

• • Mr Mukul Chhatwal

Senior Manager, Corporate Communication

Cairn Oil & Gas, Vedanta Ltd.

Mukul.Chhatwal@cairnindia.com